Breeder snaps up £1.7m mastiffs
A Chinese dog breeder has said a property developer has paid 18 million yuan (£1.7 million) for Tibetan mastiff twins, highlighting how the breed has become a status symbol for China's rich.
The large, slobbery dog with massive amounts of hair used to be best known for herding sheep in Tibet, but has now become a luxury for the ultra-rich who want to spread their wealth beyond stocks and real estate.
Breeder Zhang Gengyun said he sold the one-year-old twin male dogs to a single buyer at a luxury dog fair in wealthy Zhejiang province, located on China's east coast. The sales were reported by the local Qianjiang Evening News.
Mr Zhang said the buyer, from eastern Shandong province, paid him with his credit card.
He denied the sale was a ploy by breeders to hype the price of Tibetan mastiffs and said he was reluctant to sell the twins. "It's a real deal," he said.
He said the unnamed buyer might start breeding Tibetan mastiffs himself.
"The Tibetan mastiff is as treasured in China as the giant panda, so people consider it a symbol of higher social status," he said.
Liu Na, organiser of a Tibetan mastiff fair in Beijing, said the average price for one of the dogs is several hundreds of thousands of dollars.
The price tag usually depends on the breeder's expectations, the buyer's appreciation of the dog and the bargaining between the two, she said.